Dutch Eye Windfall Tax in $16 Billion Plan to Ease Energy Costs
- The Netherlands government will hike the minimum wage by 10%
- The cabinet plans to raise 2 billion euros from windfall tax
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The Dutch government is said to be working on up to 16 billion euros ($16 billion) in funding to alleviate the burden of high energy prices and runaway inflation on its citizens.
The plan will include a 10% increase to the minimum wage, a reduction to energy taxes and targeted subsidies to lower income households, according to people familiar with the matter. The package would be financed through a combination of higher income from the Groningen gas field, a profit tax increase on small and medium-sized enterprises and a windfall tax on companies extracting oil and gas, said the people, who spoke on condition of anonymity to discuss internal deliberations.